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EUR/GBP back into mid-range but where next?
Yesterday ahead of the BOE policy decision an update here noted the immediate lines of demarcation on the EUR/GBP as being set at 0.8500 and 0.8560. Well, subsequent to that policy outcome the EUR/GBP did fall back after testing the top end of that noted range. The EUR/GBP later closed in the US last night at 0.8531, which was pretty much slap bang in the middle of the range. Today it is edging lower just now, but that outlined range has not been put to the test again in either direction. So, where is this one ultimately headed you might ask? Well, the view here remains with a downside bias and that is being endorsed by all that has emerged since that BOE decision yesterday. The EUR/GBP is currently trading at 0.8525
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